WPC vs NNN Stock Comparison: AI Score, Valuation, Performance and Upside
W.P. Carey and NNN REIT are both net lease REITs generating stable rental income from long-term single-tenant leases, but W.P. Carey diversifies across industrial, warehouse, and other property types including European exposure, while NNN REIT focuses specifically on single-tenant retail properties within the United States.
WPC offers diversified net lease exposure across property types and geographies, while NNN offers a more focused, simpler retail net lease model with a long dividend growth track record. The decision depends on whether you prefer diversification or focused retail net lease simplicity.
NNN holds the edge across 3 of 5 key metrics in this comparison. NNN leads on both 1-year return (+1.96%) and forward P/E quality (21.42x vs 22.42x for WPC), a relatively favorable combination of momentum and valuation. On fundamentals, WPC is growing revenue faster (18.40%), while NNN maintains the higher operating margin (61.70%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for WPC (+13.35%) than for NNN (+5.76%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want diversified net lease exposure across industrial, warehouse, and other property types
- Value geographic diversification including European property exposure
- Believe inflation-linked rent escalation clauses provide meaningful downside protection
- Are comfortable evaluating a more complex, diversified net lease portfolio
- Prefer a more focused, single-tenant retail net lease business model
- Value a long track record of consistent annual dividend increases
- Want a diversified retail tenant base without exposure to industrial property risk
- Prefer a simpler net lease REIT to evaluate than a diversified property-type portfolio
| Metric | WPC | NNN |
|---|---|---|
| AI scorei | 37.2 | 26.6 |
| AI ranki | #1468 | #2478 |
| Latest closei | $64.63 | $41.69 |
| 1M returni | +0.17% | +1.81% |
| 3M returni | -10.63% | -11.62% |
| 6M returni | -11.68% | -6.12% |
| 1Y returni | -1.94% | +1.96% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | WPC | NNN |
|---|---|---|
| 1Y ago | $9.8K (-2.0%) started 2025-11-04 | $10.47K (+4.7%) started 2025-11-04 |
| 5Y ago | $8.47K (-15.3%) started 2021-11-04 | $9.03K (-9.7%) started 2021-11-04 |
| 10Y ago | $11.39K (+13.9%) started 2016-11-04 | $9.58K (-4.2%) started 2016-11-04 |
Hypothetical — past performance does not guarantee future results.
| Metric | WPC | NNN |
|---|---|---|
| Market capi | $16.08B | $8.57B |
| Trailing P/Ei | 24.17 | 22.20 |
| Forward P/Ei | 22.42 | 21.42 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 13.61 | 14.35 |
| Analyst targeti | $80.00 | $47.67 |
| Target upsidei | +13.35% | +5.76% |
| Metric | WPC | NNN |
|---|---|---|
| Revenue growthi | 18.40% | 7.70% |
| Earnings growthi | 256.50% | -3.70% |
| EPS growthi | +256.50% | -3.70% |
| FCF margini | +60.21% | -143.91% |
| Operating margini | 59.30% | 61.70% |
| Profit margini | 35.76% | 40.35% |
| ROIC proxyi | 7.78% | 8.72% |
| Return on equityi | 7.78% | 8.72% |
| Dividend yieldi | 5.36% | 5.48% |
| Payout ratioi | 129.86% | 118.81% |
| Dividend growth streaki | N/A | N/A |
| Betai | 0.78 | 0.78 |
| Debt/equityi | 101.88 | 112.12 |
| Current ratioi | 1.16 | 0.18 |
| Quick ratioi | 1.13 | 0.12 |
Over the past year, WPC and NNN have moved strongly in the same direction (correlation of 0.79), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | WPC | NNN |
|---|---|---|---|
| 1Y | Growthi | -1.96% | +4.70% |
| CAGRi | -1.96% | +4.71% | |
| Volatilityi | 18.06% | 17.29% | |
| Sharpe ratioi | -0.27 | 0.10 | |
| Sortino ratioi | -0.37 | 0.14 | |
| Max drawdowni | 18.43% | 19.66% | |
| Current drawdowni | 15.75% | 15.93% | |
| Avg drawdowni | 5.15% | 4.99% | |
| Ulcer Indexi | 7.16% | 7.39% | |
| Max daily dropi | 5.16% | 4.00% | |
| Max wkly dropi | 6.88% | 6.01% | |
| 5Y | Growthi | -15.30% | -9.72% |
| CAGRi | -3.27% | -2.03% | |
| Volatilityi | 20.81% | 19.74% | |
| Sharpe ratioi | -0.27 | -0.23 | |
| Sortino ratioi | -0.37 | -0.32 | |
| Max drawdowni | 41.53% | 28.35% | |
| Current drawdowni | 26.11% | 15.93% | |
| Avg drawdowni | 21.49% | 11.66% | |
| Ulcer Indexi | 24.29% | 13.06% | |
| Max daily dropi | 7.99% | 5.52% | |
| Max wkly dropi | 14.42% | 11.62% | |
| 10Y | Growthi | +13.95% | -4.25% |
| CAGRi | +1.31% | -0.43% | |
| Volatilityi | 25.87% | 28.06% | |
| Sharpe ratioi | 0.01 | -0.03 | |
| Sortino ratioi | 0.01 | -0.04 | |
| Max drawdowni | 53.07% | 55.19% | |
| Current drawdowni | 29.39% | 29.23% | |
| Avg drawdowni | 18.79% | 20.93% | |
| Ulcer Indexi | 22.52% | 24.04% | |
| Max daily dropi | 17.79% | 24.42% | |
| Max wkly dropi | 33.19% | 43.12% |
| Category | WPC | NNN |
|---|---|---|
| Company | W. P. Carey Inc. | NNN REIT, Inc. |
| Sector | Real Estate | Real Estate |
| Industry | REIT - Diversified | REIT - Retail |
| Core business | A diversified net lease real estate investment trust that owns industrial, warehouse, and other commercial properties leased to single tenants across the United States and Europe under long-term contracts. | A net lease real estate investment trust that owns and leases single-tenant retail properties to a diversified base of retail tenants across the United States under long-term triple net lease agreements. |
| Investor focus | Portfolio diversification across property types and geographies, rent escalation clause structure tied to inflation, and acquisition activity funding continued external growth. | Retail tenant credit quality and occupancy trends, rent escalation clause structure, and acquisition activity funding continued portfolio growth. |
- Diversification across industrial, warehouse, and other property types reduces reliance on any single sector's demand trends
- European property exposure alongside US holdings provides geographic diversification beyond a purely domestic net lease portfolio
- Rent escalation clauses tied to inflation in many leases provide some protection against rising cost environments
- Focus on single-tenant retail net lease properties provides a simpler, more predictable business model than diversified net lease peers
- Long track record of consistent annual dividend increases reflects the stability of its triple net lease retail portfolio
- Diversified retail tenant base across many industries reduces reliance on any single retail category's performance
- Portfolio diversification across property types can make the company's overall risk profile more complex to evaluate than a single-property-type net lease REIT
- European operations expose the company to currency fluctuation and distinct regulatory considerations
- Continued external growth through acquisitions requires ongoing access to capital markets at attractive costs
- Retail-only focus provides less diversification than net lease REITs with exposure to industrial or other property types
- Retail tenant performance can be affected by broader consumer spending trends and e-commerce competition
- Triple net lease structure shifts property-level operating expenses to tenants, which requires careful tenant credit underwriting
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